CASBO Chief Business Official (CBO) Practice Test

These questions are part of the practice quiz. Start practicing

• Under GO bonds, which category typically requires a 2/3 vote?
• Which statement about inventory control benefits is NOT true in a district supply room?
• Which statement best describes the A-O list in charter petitions?
• AB97 created the LCFF in which year?
• FERPA affects student data privacy by...
• In revenue forecasting, which factor complements enrollment and historical trends to anticipate changes in funding?
• What is the correct sequence for board adoption of the annual budget?
• Which statement about GASB's pension accounting standards is accurate?
• Which bond sale method applies to COP bonds?
• Which GASB54 fund balance classification is described as assigned for a specific purpose without board action?
• Which of the following is a plausible but not listed measure to prevent fraud?
• Which GASB54 fund balance classification includes inventory and prepaid items (not cash)?
• Which statement best describes the Unassigned GASB54 fund balance?
• Special Tax bond sale and debt limit?
• What does CUPCCA do in procurement policy?
• What did AB97 do in 2013?
• What is the bid limit for equipment, materials, supplies, non construction services, repairs and maintenance that are not public works projects?
• Name three internal control activities that reduce risk of misappropriation of funds.
• What is the purpose of conducting energy audits in district facilities?
• What is a key internal control principle in payroll processing?
• Which GASB54 fund balance classification signifies funds with no constraints, available for any purpose in the general fund?
• Which practice is essential to maintaining student data privacy in district operations?
• Which bond type is associated with CFD debt limit typically 3x outstanding bonds?
• Which statement about restricted resources is true?
• How many items are required on the A-O list for a charter school petition?
• How many fund balance classifications are defined by GASB54?
• Which bond type has no debt limit?
• Which procurement approach is typically required for purchases over $200,000?
• What is the role of GASB in pension accounting?
• Which statement best reflects GASB requirements for pension reporting?
• Prop 13 did what in 1978?
• PCC 20116 requires completion of prequalification statements and financials if bid amount exceeds what threshold?
• What is the primary purpose of a multi-year projection in K-12 district budgeting?
• What is the primary purpose of base funding per pupil in LCFF?
• Which threshold of UPP activates the concentration grant's additional funding?
• How do safety codes and compliance affect school facilities?
• Which of the following is NOT a component of the SACS structure?
• How is SELPA AB602 funded?
• What is the required approach when a district borrows cash?
• What happens after layoff notices go out?
• Under the California Public Records Act, what are districts generally expected to do?
• Which of the following steps is required when employee compensation changes occur due to collective bargaining?
• Which of the following combinations influences the timing of issuing debt?
• What is the maximum term for a special tax?
• Which milestone is set for March 15 in the layoff process?
• Which statement best describes the relationship between an annual financial report and an external audit?
• Which statement correctly describes the difference between negotiated and competitive bond sales?
• How does Deferred Maintenance funding impact district operations?
• Which factor influences the timing of debt issuance?
• Which is a component of the SACS structure?
• Which bond type typically requires voter approval?
• What does the California Code of Regulations, Title 5 regulate in school operations?
• When does the first interim end?
• Which statement best captures the role of ethics in procurement decisions?
• What is a debt service schedule and why is it essential?
• How does LCFF address equity in funding?
• Under LCFF, concentration grants are designed to promote equity by addressing what?
• Which item is a common cash flow projection error related to starting balances?
• If agreement during mediation during a negotiation cannot be reached, what happens next?
• COP bond sale and debt limit?
• What is the object code for state aid (LCFF)?
• Which statement about AB602 funding is true?
• What is the purpose of written change orders in contract management?
• Under CUPCCAA, contracts under $60,000 are performed by which method?
• CUPCCAA requires formal bidding procedures at what amount?
• SB90 did what in 1972?
• What is the maximum term for a COP financing?
• What is the potential consequence of failing to remediate deficiencies found in compliance reporting?
• Which scenario triggers formal competitive bidding under California Public Contract Code or Education Code?
• How should districts manage indirect costs on federal grants?
• The GO debt limit as a percentage of assessed value is 2.5% for USD and 1.5% for non-USD. True?
• What is the essential difference between GO bonds and Mello-Roos financing in terms of repayment?
• Which statement correctly describes the timing of interim periods in the budget cycle?
• Which statement about RFP evaluation criteria is true?
• Which principle best describes data governance' primary aim in reporting?
• What happens on May 15 in the layoff process?
• Which of the following is an element of IDEA?
• Which GASB54 fund balance classification is for resources restricted to a specific externally imposed purpose?
• What is the reason for recording inter-fund transfers in both transferring and receiving funds?
• Why is a bank reconciliation a critical control in school finance?
• Which description about bid evaluation is true in an RFB process?
• What triggers a net pension liability recognition in financial statements for current employees?
• How should districts account for inter-fund transfers to avoid misstatement?
• Fund 51 primarily covers what financial area?
• GO bonds bond sale and debt limit?
• Which of the following is a common cash flow projection error related to cash balance status?
• Why is auditor independence important in district audits?
• Which methods support accurate revenue forecasting for CA districts?
• Which is a common cash flow projection error related to revenue projections?
• Under Special Taxes, which asset qualifies?
• What is the role of a board-adopted budget in district financial control?
• Which statement best defines Least Restrictive Environment (LRE)?
• What is the Unruh Civil Rights Act designed to protect against?
• When responding to audit findings, what is the typical sequence of actions?
• Which approach best maintains independence during district audits?
• To strengthen state compliance reporting, which practice is described?
• What is the impact of ADA compliance on district funding and staffing decisions?
• Is there a school board exception available for Special Tax CFD debt limits?
• Which resource code range represents restricted resources?
• RFB stands for?
• Which step occurs in February or March during the layoff process?
• In a fall audit, which areas are typically reviewed?
• Under the Public Contract Code, expenditures over $114,500 require what?
• Which item is NOT part of the SACS structure?
• 4 steps in addressing risk
• Which statement best describes the CIP's role in aligning asset management with the budget?
• What is the difference between formal bidding and informal procurement in California school districts?
• When is the first interim due to the board?
• Which elements are defined by data governance to enable reliable reporting and compliance?
• Which option describes the informal bidding process under CUPCCAA?
• What is a primary objective of internal controls in payroll processing?
• Which facilities/equipment qualify for a COP without a vote?
• What strategies optimize energy efficiency in district facilities?
• Which of the following is not a GASB54 fund balance classification?
• In the SACS code, which category defines the set of objectives?
• What happens when there is an impasse in collective bargaining?
• What is the focus of the Single Audit Act regarding federal funds?
• Which term is an audit outcome indicating no issues found?
• How does GASB 34 change district financial reporting?
• What is the concentration grant's funding percentage when UPP exceeds 55%?
• AB1267 did 1977?
• What is the recommended approach for districts to monitor state compliance reporting?
• Which GASB54 fund balance classification is described as set aside by the board for a specific purpose?
• How does ADA compliance impact staffing decisions?
• Which of the following is NOT a purpose of the annual financial report and external audit for districts?
• What is the final action in the layoff process?
• In financial reporting, what term describes the shortfall when actuarially determined pension obligations exceed employer contributions?
• Which statement accurately describes internal audits?
• What is Fund 21 used for?
• What distinguishes a general obligation bond from a Mello-Roos district financing?
• Why are grant timelines and deliverables critical?
• Which statement correctly matches the resource code ranges to resource types?
• Which of the following is a valid reason to lay off certificated employees in California?
• CA law requires projects to be bid public works contracts at what threshold?
• Which choice correctly identifies the LCFF object code?
• Which entity is typically responsible for issuing the official opinion on a district's financial statements?
• Regarding FRISK what does FRISK stand for and what is it used for?
• When is the second interim due to the board?
• What is the correct order of dashboard colors from low to high?
• Why is an aligned insurance program important for districts?
• Which statement about unrestricted resources is true?
• What is the first step in the layoff process for certificated staff?
• What is the core concept of the Local Control Funding Formula (LCFF) in California?
• What are the stages of risk management (5)?
• How should conflicts of interest be handled in procurement?
• Which areas are typically reviewed during the spring audit?
• For CalPERS, what constitutes one year of credible service for hourly employees?
• Which statement describes the Serrano-Priest ruling?
• Which practices support effective benefits administration and cost controls?
• What is a capital improvement plan (CIP) and what is its purpose?
• What is the maximum term for GO bonds?
• Which is NOT a recommended practice for monitoring contract performance?
• California school finance laws and propositions influence funding by providing what?
• 3 things present for fraud to take place according to the fraud triangle
• What percentage of funds do supplement grants provide?
• Prop 13 rolled back assessed values to 1975-76 and capped taxes; the cap rate was?
• In a non-CUPCCAA district, what threshold triggers competitive bidding for public works projects?
• What is the maximum term for public contracts for services?
• Under PCC 20651(b), public works projects must be competitively bid if the project exceeds what amount in non-CUPCCAA districts?
• What controls reduce cash handling risk in cafeterias and stores?
• What does GASB require regarding pension reporting?
• How is lottery funding determined?
• What best describes a budget variance and recommended response?
• For bids over $100,000, which items are required in bid packets?
• What is the purpose of adjusting a budget forecast after a variance?
• In managing indirect costs on federal grants, which statement best describes the proper practice?
• Prop 98 establishes what in California school funding?
• What must be included in an ending fund balance?
• What is enterprise risk management (ERM) in a school district?
• The LCFF object code range is 8000-8799. Which option correctly identifies the object code range for LCFF state aid?
• Which practices support student data privacy in district operations?
• Why is change management important when implementing new financial systems?
• Which statement about the lowest-price criterion in RFB is accurate?
• Which of the following is NOT a primary objective of a district information security program?
• Which framework governs formal bidding in California school districts?
• RFP stands for?
• When does the second interim end?
• Which statement best describes E-rate?
• What is a fund balance?
• Which resource code range represents unrestricted resources?